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CHEVALIER v. BAIRD SAVINGS ASSOCIATION

Civ. A. No. 72-1599.

371 F.Supp. 1282 (1974)

Michel CHEVALIER et al., Plaintiffs, v. BAIRD SAVINGS ASSOCIATION et al., Defendants.

United States District Court, E. D. Pennsylvania.

March 6, 1974.

Attorney(s) appearing for the Case

Harold K. Cohen, Samuel Diamond, Diamond, Polsky & Bauer, Philadelphia, Pa., for plaintiffs.

Walter R. Milbourne, Obermayer, Rebmann, Maxwell & Hippel, Patrick T. Ryan, Drinker, Biddle & Reath, Michael J. Izzo, Jr., Clark, Ladner, Fortenbaugh & Young, William L. Matz, Zoob & Matz, Philadelphia, Pa., for defendants' Liaison Committee.

MEMORANDUM AND ORDER

JOSEPH S. LORD, III, Chief Judge.

Plaintiffs have brought suit against a class of savings and loan associations and building and loan associations on behalf of a class of past, present and future individual mortgagors. They allege that the practice whereby defendants require that monthly payments of mortgage interest and principal amortization be due and payable at the beginning of each monthly period over the entire term of the mortgage...

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